A mortgage loan is a type of loan used to purchase or refinance real estate, where the property itself serves as collateral. Typically offered with fixed or adjustable interest rates, mortgage loans allow borrowers to spread the cost of a home over an extended period, often 15 to 30 years. With various loan types, including conventional, FHA, and VA loans, a mortgage offers flexible options for first-time homebuyers, refinancers, and those looking to invest in property. Properly managing a mortgage can lead to homeownership and long-term financial stability.

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